CNBC Select Offers Guidance on Protecting Against Student Loan Scams Amidst New Regulations
CNBC Select is providing essential advice on how student loan borrowers can protect themselves from scams, particularly as new student loan rules create fresh opportunities for fraudsters. Scammers are adapting their tactics, moving from promises of forgiveness to exploiting borrowers' anxieties about payment changes. Common scam types include advance-fee scams, where companies demand upfront payment for services that are often free through official channels, and requests for login information, which can lead to identity theft and unauthorized loan activity. Fraudsters also promote fake forgiveness offers and use social media to advertise misleading 'consultations.' Experts like Mark Kantrowitz and Carolina Rodriguez advise borrowers to go directly to official sources like StudentAid.gov or their loan servicer to verify information and manage their accounts. They also recommend never sharing login credentials with third parties and being skeptical of urgent requests. If targeted, borrowers should immediate... 
